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[{"type":"text","content":"\n RNS Number : 0471K Phytopharm PLC 12 December 2008 \n \n12 December 2008\n\nPhytopharm plc\n\nUnilever returns rights to Hoodia extract\n\nGODMANCHESTER, Cambridgeshire, U.K. - Phytopharm plc (PYM: London Stock Exchange) ('Phytopharm' or the 'Company') announces today that it has agreed by mutual consent to terminate its agreement with Unilever for the development of Hoodia extract as a functional food targeting weight management. All the original Phytopharm patents and rights will revert to Phytopharm. In addition, Unilever has granted Phytopharm a non-exclusive, perpetual, irrevocable, worldwide, royalty-free licence, with the right to sub-license, to any Unilever patents, intellectual property rights and know-how connected with the Hoodia programme. \n\nPhytopharm and Unilever will work together to facilitate an orderly handover, under which Unilever will meet all costs of the Hoodia programme through to 31 December 2008. Unilever will continue to support the handover process during the first half of 2009 and facilitate Phytopharm taking forward a proportion of the area under cultivation. In addition, Unilever will make available existing stocks of dried Hoodia and extract for Phytopharm to take over at its option.\n\nAlistair Taylor, Chairman of Phytopharm, commented: 'Although it is disappointing that the collaboration with Unilever on Hoodia did not reach a successful conclusion, we are pleased to have agreed termination terms with Unilever which enable us to take the product forward with another partner. Phytopharm continues to believe strongly that there are alternative product formats and applications for the commercialisation of Hoodia. We will seek to identify potential partners in the areas of veterinary and orphan pharmaceutical products, as well as functional foods.'\n\nThe business review being conducted by Phytopharm is ongoing and the Company intends to update the market on the outcome of the review and Phytopharm's future strategy in January 2009.\n\n-Ends-\n\n\n\n\n\n\nEnquiries\nPhytopharm plc\nAlistair Taylor, Chairman\nSandy Morrison, Non...